Luis de Guindos
| Luis de Guindos | |
|---|---|
 |
|
| Minister of Economy and Competitiveness | |
|
Assumed office 21 December 2011 |
|
| Prime Minister | Mariano Rajoy |
| Preceded by | Elena Salgado (Economy and Finance) |
| Personal details | |
| Born |
16 January 1960 Madrid, Spain |
| Political party | Independent |
| Alma mater | University College of Financial Studies |
Luis de Guindos Jurado (born January 16, 1960) is a Spanish politician and currently the Minister of Economy and Competitiveness of Spain.
De Guindos was born in Madrid, Spain, on January 16, 1960. He is a Bachelor of Economics and Business at the Colegio Universitario de Estudios Financieros.
De Guindos was once the Managing Partner of Advisors AB, secretary of the magazine "Business Information Spanish", and vocal to the Secretary of State for Economy of Spain and Head of Technical Office of the General Secretariat of Commerce.
In late 1996, de Guindos was appointed General Director for Economic and Competitiveness. He has served on the board of Renfe between 1997 and 2000 and the Official Credit Institute from 2000 to 2002. In May 2000 was appointed Secretary in General for Economy, and State Industrial Holdings Company. He was Secretary of State for Economic Affairs under Minister for Economic Affairs Rodrigo Rato in the last government led by José María Aznar and was succeeded by David Vegara. In this capacity, he was in charge of overseeing Spain's entry into the eurozone.
In 2006, de Guindos was appointed advisor for Lehman Brothers in Europe and director of its subsidiary bank in Spain and Portugal, where he remained until the collapse and declaration of bankruptcy of the latter in 2008. Subsequently, de Guindos became responsible for the finance division of Pricewaterhouse Coopers. Finally, and in a largely ceremonial role, he was appointed as a professor of finance at the PwC and IE Financial Sector Center of IE Business School (Madrid), between 2010-2012, before joining as a minister. He was also a board member of Endesa SA, a Spanish power company.
From 2011, de Guindos worked for the board of Mare Nostrum Bank, which was formed in 2010 from a merger of savings banks, until he resigned to become part of the government led by Mariano Rajoy in December of that year.
De Guindos has served as economy minister in Rajoy's centre-right government since it took office in 2012 and is credited with steering Spain to economic recovery following the euro zone's 2009-2014 crisis. He played a crucial role in negotiating the European Union's €100 billion bailout of Spain's stricken savings banks, and in spearheading the country's overhaul of the banking sector, labour market and other parts of the economy. His implementation of a program of both structural reforms and austerity measures has earned praise from Spain's European partners and the Organisation for Economic Co-operation and Development (OECD), which estimated that no country other than Greece had implemented more structural reforms than Spain.
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